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Derivatives (Tables)

6 Months Ended

Jun. 30, 2023

Derivative [Line Items]

Summary of Derivative Instruments, Gain (Loss)

The effects of the fair value hedges on the Company's income statement during the three and six months ended June 30, 2023 and 2022 were as follows (in thousands):

				Three months ended June 30,								Six months ended June 30,
Derivative		Location of Gain (Loss) on Derivatives		2023				2022				2023				2022
Interest rate swap agreements		Interest income on loans		$	363			$	492			$	38			$	1,277

				Three months ended June 30,								Six months ended June 30,
Derivative		Location of Gain (Loss) on Hedged Items		2023				2022				2023				2022
Interest rate swap agreements		Interest income on loans		$	(363	)		$	(492	)		$	(38	)		$	(1,277	)

Summary of Cumulative Basis Adjustment of Fair Value Hedges

As of June 30, 2023, the following amounts were recorded on the consolidated balance sheet related to cumulative basis adjustment for fair value hedges (in thousands):

Line Item in the Balance Sheet in Which the Hedge Item is Included		Carrying Amount of the Hedged Asset				Cumulative Amount of Fair Value Hedging Adjustment Included in the Carrying Amount of the Hedged Asset
Loans		$	12,018			$	(1,191	)

Not Designated as Hedging Instrument

Derivative [Line Items]

Summary of Fair Value Derivative Instruments

The following amounts represent the notional amounts and gross fair value of derivative contracts not designated as hedging instruments outstanding during the six months ended June 30, 2023 (dollars in thousands):

June 30, 2023		Balance Sheet Location		Weighted Average Remaining Maturity (Years)		Notional Amount				Estimated Value
Interest rate swap agreements		Other assets		5.5		$	31,449			$	3,913
Interest rate swap agreements		Other liabilities		5.5			31,449				(3,913	)

Fair Value Hedging | Designated As Hedging Instrument

Derivative [Line Items]

Summary of Fair Value Derivative Instruments

The following table provides the outstanding notional balances and fair values of outstanding derivatives designated as hedging instruments as of June 30, 2023 and December 31, 2022 (in thousands):

		Balance Sheet Location		Weighted Average Remaining Maturity (Years)		Notional Amount				Estimated Value
June 30, 2023
Fair value hedges:
Interest rate swap agreements		Other liabilities		5.8		$	13,208			$	(2,723	)
December 31, 2022
Fair value hedges:
Interest rate swap agreements		Other liabilities		6.3		$	13,448			$	(3,100	)

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